US Personal Lines Outlook Continues to Be Negative: AM Best
A Century of Insurance Journal Dec 4, 2023 | 10:59 amThe U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September 2022 – at first due in large part to the[…]
Read more...Confie Acquires Acceptance Insurance
A Century of Insurance Journal Dec 4, 2023 | 10:24 amConfie announced the acquisition of Acceptance Insurance’s retail division to its family of brands. The personal lines distribution company said its latest acquisition expands its footprint to 26 states across the U.S. with the retail store additions in Ohio, Pennsylvania[…]
Read more...Winter Weather in Pacific Northwest Cut Power to Thousands in Seattle
A Century of Insurance Journal Dec 4, 2023 | 10:04 amWinter weather brought high winds and snow to parts of the Pacific Northwest, knocking out power in some areas and dumping fresh snow across the Cascade Range. Thousands of households were without power Saturday morning in the greater Seattle area[…]
Read more...World Insurance to Purchase Exchange Underwriters From Pennsylvania Bank
A Century of Insurance Journal Dec 4, 2023 | 09:59 amInsurance broker World Insurance Associates has agreed to purchase the personal and commercial insurance agency Exchange Underwriters, Inc. from CB Financial Services, Inc., the holding company for Pennsylvania-based Community Bank. According to the asset purchase agreement, World Insurance Associates will[…]
Read more...Wolf-Dog Hybrid Pet Kills 3-Month-Old Child in Alabama
A Century of Insurance Journal Dec 4, 2023 | 09:14 amCHELSEA, Ala. (AP) — A 3-month-old boy was killed as his parents tried to rescue the baby from the family pet, a hybrid animal that was part dog, part wolf, authorities said. The boy had been bitten but was alive[…]
Read more...New North Carolina Laws on Rioting, Power Station Attacks, Guns Take Effect
A Century of Insurance Journal Dec 4, 2023 | 08:23 amRALEIGH, N.C. (AP) — New or tougher criminal penalties against rioting, vandalizing power stations and harassing law enforcement officers and emergency workers are among North Carolina laws approved this year that took effect Friday. Expanded gun rights at some places[…]
Read more...Massachusetts to Remove 8 Aging Dams for Water Quality, Flood Mitigation, Safety
A Century of Insurance Journal Dec 4, 2023 | 08:20 amEight aging dams in central and western Massachusetts will be removed as part of a $25 million initiative announced Friday by state environmental officials. The structures to be dismantled include the abandoned high-hazard Bel Air Dam in Pittsfield. Removing the[…]
Read more...US Supreme Court Set to Review Purdue Pharma Bankruptcy Settlement
A Century of Insurance Journal Dec 4, 2023 | 08:04 amThe U.S. Supreme Court on Monday is set to hear a challenge by President Joe Biden’s administration to the legality of OxyContin maker Purdue Pharma’s bankruptcy settlement, a deal that if approved would shield its wealthy Sackler family owners from[…]
Read more...Severe Cyclone May Bring Floods to Parts of Southeast India
A Century of Insurance Journal Dec 4, 2023 | 06:57 amA severe cyclone in the Bay of Bengal is likely to cause heavy rain and strong winds across southeast India, with authorities warning of flash floods, damage to crops and power failures in some affected areas. Cyclone Michaung may bring[…]
Read more...Australia Faces Increased Risk From Bushfires Ahead of El Niño Summer
A Century of Insurance Journal Dec 4, 2023 | 06:36 amAustralia faces an increased risk of bushfires during the approaching summer, authorities warned on Thursday, with the El Niño weather pattern expected to generate hotter and drier conditions across large swathes of the country. Three years of incessant rain has[…]
Read more...Global Regulators Propose Tougher Scrutiny of Voluntary Carbon Markets
A Century of Insurance Journal Dec 4, 2023 | 06:05 amA global securities watchdog proposed 21 safety measures on Sunday to improve integrity, transparency and enforcement in voluntary carbon markets (VCMs) in a sector of growing importance to efforts to combat climate change. IOSCO, which groups market watchdogs from Asia,[…]
Read more...Spanish Media Association Files $598M Lawsuit Against Facebook Owner Meta
A Century of Insurance Journal Dec 4, 2023 | 05:20 amA group representing 83 Spanish media outlets on Monday said it has filed a 550 million euro ($598 million) lawsuit against Facebook owner Meta Platforms, citing unfair competition in the advertising market. The lawsuit was filed by the AMI newspaper[…]
Read more...Multiple Commercial Vessels Attacked in Red Sea
A Century of Insurance Journal Dec 4, 2023 | 05:13 amThree commercial vessels came under attack in international waters in the southern Red Sea, the U.S. military said Sunday, as Yemen’s Houthi group claimed drone and missile attacks on two Israeli vessels in the area. The Carney, an American destroyer,[…]
Read more...Hillary Clinton Calls for Reform of Insurance Sector at COP28 Climate Talks
A Century of Insurance Journal Dec 4, 2023 | 04:34 amFormer U.S. Secretary of State Hillary Clinton called on Sunday for reform of the insurance sector, where companies are increasingly withdrawing assistance against climate shocks. Lower-income countries and workers in nations most affected by climate change are struggling to access[…]
Read more...Climate Finance Takes Center Stage at COP28 Climate Talks
A Century of Insurance Journal Dec 4, 2023 | 04:15 amMoney pledges grabbed the spotlight again at COP28 in Dubai on Monday as delegates turned their focus to the yawning gap in the need for climate finance and what’s on offer. The United Arab Emirates, the host of this year’s[…]
Read more...BMW Recalls SUVs Since Takata Air Bag Inflators Can Blow Apart
A Century of Insurance Journal Dec 4, 2023 | 01:57 amBMW is recalling a small number of SUVs in the U.S. because the driver’s air bag inflators can blow apart in a crash, hurling metal shrapnel and possibly injuring or killing people in the vehicles. U.S. auto safety regulators say[…]
Read more...Breaches by Iran-Affiliated Hackers Spanned Multiple States
A Century of Insurance Journal Dec 4, 2023 | 01:47 amA small western Pennsylvania water authority was just one of multiple organizations breached in the United States by Iran-affiliated hackers who targeted a specific industrial control device because it is Israeli-made, U.S. and Israeli authorities say. “The victims span multiple[…]
Read more...Florida Authorities Charge 4 in Fraudulent Roof Claims, Issue Warrant for Contractor
A Century of Insurance Journal Dec 4, 2023 | 01:01 amFlorida authorities have announced the arrest of four people in connection with an alleged scheme to deliberately damage roofs in order to qualify them for insurance claims. Another contractor well known to insurers also was arrested in Fort Myers. A[…]
Read more...New York Court Upholds Nursing Home COVID-19 Immunity
A Century of Insurance Journal Dec 4, 2023 | 01:00 amA New York state appellate court has ruled that an April 2021 state law repealing a March 2020 grant of immunity to nursing homes over their handling of COVID-19 patients is not retroactive. The ruling means a nursing facility in[…]
Read more...Trump Denied Immunity Against US Election Subversion Charges
A Century of Insurance Journal Dec 3, 2023 | 15:35 pmDonald Trump is not entitled to absolute presidential immunity against criminal charges over his efforts to overturn the 2020 presidential election, a federal judge ruled, saying the office doesn’t come with a “lifelong ‘get-out-of-jail-free’ pass.” US District Judge Tanya Chutkan[…]
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